Landstar System, Inc. (LSTR) Expected to Post Quarterly Sales of $847.09 Million
Brokerages predict that Landstar System, Inc. (NASDAQ:LSTR) will post sales of $847.09 million for the current quarter, according to Zacks. Six analysts have made estimates for Landstar System’s earnings, with estimates ranging from $841 million to $864.13 million. Landstar System posted sales of $775.22 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.3%. The company is expected to report its next earnings report after the market closes on Wednesday, July 26th.
On average, analysts expect that Landstar System will report full year sales of $847.09 million for the current financial year, with estimates ranging from $3.36 billion to $3.55 billion. For the next financial year, analysts expect that the business will report sales of $3.67 billion per share, with estimates ranging from $3.51 billion to $4.08 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Landstar System.
Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, April 26th. The transportation company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Landstar System had a net margin of 4.34% and a return on equity of 27.08%. The firm earned $780.90 million during the quarter, compared to the consensus estimate of $757.56 million. During the same period in the prior year, the firm earned $0.69 EPS. The company’s revenue was up 9.7% compared to the same quarter last year.
LSTR has been the subject of several recent research reports. Credit Suisse Group AG restated a “neutral” rating and set a $83.00 target price (up from $82.00) on shares of Landstar System in a research report on Monday, March 6th. Raymond James Financial, Inc. lowered shares of Landstar System from a “market perform” rating to an “underperform” rating in a research report on Tuesday, January 17th. Cowen and Company boosted their target price on shares of Landstar System from $70.00 to $76.00 and gave the company a “market perform” rating in a research report on Friday, February 3rd. KeyCorp upgraded shares of Landstar System from a “sector weight” rating to an “overweight” rating in a research report on Friday, January 13th. Finally, Zacks Investment Research lowered shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $85.33.
Landstar System (NASDAQ:LSTR) opened at 83.85 on Friday. The company has a market capitalization of $3.52 billion, a P/E ratio of 25.17 and a beta of 0.74. Landstar System has a 52-week low of $64.18 and a 52-week high of $90.80. The stock’s 50 day moving average is $85.03 and its 200-day moving average is $83.27.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Thursday, May 11th will be given a $0.09 dividend. The ex-dividend date is Tuesday, May 9th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.43%. Landstar System’s payout ratio is currently 11.08%.
In other Landstar System news, CFO L Kevin Stout sold 5,448 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $85.65, for a total value of $466,621.20. Following the completion of the transaction, the chief financial officer now directly owns 30,397 shares in the company, valued at $2,603,503.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Landstar System by 87.2% in the fourth quarter. Renaissance Technologies LLC now owns 123,640 shares of the transportation company’s stock worth $10,546,000 after buying an additional 57,600 shares during the last quarter. FMR LLC raised its position in Landstar System by 42.6% in the fourth quarter. FMR LLC now owns 804,065 shares of the transportation company’s stock worth $68,587,000 after buying an additional 240,340 shares during the last quarter. Guggenheim Capital LLC raised its position in Landstar System by 121.0% in the fourth quarter. Guggenheim Capital LLC now owns 72,746 shares of the transportation company’s stock worth $6,206,000 after buying an additional 39,830 shares during the last quarter. Wells Fargo & Company MN raised its position in Landstar System by 6.2% in the third quarter. Wells Fargo & Company MN now owns 1,260,044 shares of the transportation company’s stock worth $85,784,000 after buying an additional 73,783 shares during the last quarter. Finally, Comerica Bank raised its position in Landstar System by 3.6% in the fourth quarter. Comerica Bank now owns 31,316 shares of the transportation company’s stock worth $2,717,000 after buying an additional 1,087 shares during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.
About Landstar System
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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